A crypto wallet that had been dormant for five months woke up on Thursday to accumulate more than $7 million in TRUMP tokens as the official memecoin team linked to the US president announced a second gala event for top holders, sending the token up more than 60% from its all-time low.
On-chain data from Arkham Intelligence shows that the wallet began purchasing Binance Hot Wallet tokens starting at 01:49 UTC on March 13, hours after the gala was announced. The wallet accumulated approximately 2.2 million TRUMP in four transactions: an initial test purchase of a single token, followed by two purchases of approximately 1 million tokens each, worth a combined $6.23 million, and an additional purchase of 200,000 tokens worth $742,000.
The TrumpMeme account on X announced a conference and gala luncheon at Mar-a-Lago on April 25. The event is open to the top 297 TRUMP holders based on the time-weighted average balance between the announcement date of March 12 and April 10.
TRUMP fell to an all-time low near $2.71 on Thursday before skyrocketing to $4.50 and then retreating to around $3.90, still a roughly 44% gain from the low. The wallet had increased approximately $2.47 million in its position at press time, with total holdings valued at $9.44 million, according to Arkham data.
The new event echoes the dinner held at Trump National Golf Club in May 2025, which drew criticism from lawmakers and ethics watchdogs over presidential access as an incentive for token ownership. A disclaimer on the new event’s website states that Donald Trump will appear in his personal capacity and without private meetings.
TRUMP has fallen about 96% from its all-time high of around $74, set just before Trump’s inauguration in January 2025.
